Morgan Stanley Suggests Zero AI Value Implied by Potential $100 Stock Price for SpaceX
SpaceX's stock has fallen nearly 50% from its post-IPO high, trading at around $110 per share as of July 26. Morgan Stanley analyst Adam Jonas suggests that if the price drops further to $100, it could indicate investors are assigning no value—or even negative value—to SpaceX’s AI division due to concerns over capital expenditures and uncertain profitability. The firm also noted a potential additional sell-off after insider shares become available for trading following SpaceX's first earnings report on August 4. Despite the recent decline, Jonas sees an attractive entry point for investors given SpaceX's unique positioning in launch services, connectivity via Starlink, and AI development.
Topics: AI valuation IPO performance Morgan Stanley analysis SpaceX